New York State’s 20% ITC: A Big Win for the Farmers Who Keep Our Economy Running
New York’s agricultural community has long been the backbone of our state’s economy. From dairy and produce to livestock and specialty crops, farmers don’t just grow food — they sustain local jobs, support rural communities, preserve open land, and keep our entire economic ecosystem thriving. That’s why we’re excited to share some great news for those who work tirelessly to keep New York fed and flourishing.
Introducing the New York State 20% Investment Tax Credit (ITC)
Eligible New York farmers can now take advantage of a 20% Investment Tax Credit designed to support improvements in equipment, infrastructure, and overall productivity. This incentive helps reduce the financial burden of upgrading essential farm operations — making it easier for farmers to innovate, modernize, and remain competitive in a rapidly evolving agricultural landscape.
Why This Matters for Farmers
Farming is one of the toughest and most important industries in New York. Every investment — whether it’s new machinery, renewable energy systems, or on-farm processing equipment — comes with a significant cost. The 20% ITC helps offset these expenses, allowing farmers to:
- Upgrade equipment to improve efficiency and reduce downtime
- Adopt sustainable technologies like solar or energy-efficient systems
- Expand operations with new barns, facilities, or processing capabilities
- Strengthen long-term financial resilience
Simply put, this tax credit helps farmers reinvest in the future of their operations — and in the future of New York agriculture.
Farmers Are the Backbone of New York’s Economy
It’s easy to take for granted the food on our tables, but behind every meal is a farmer who wakes up before dawn, works through unpredictable weather, and manages countless challenges to keep our food system strong. New York’s farming families contribute billions of dollars to the state economy each year and support thousands of local jobs across rural and urban communities alike.
This tax credit is more than a financial incentive — it’s a recognition of the essential role our farmers play in keeping New York prosperous.
We’re Here to Support You
If you’re a farmer interested in taking advantage of the 20% ITC but aren’t sure where to start, we’re here to help. Whether you need guidance on eligibility, documentation, or how the credit integrates into your long-term planning, our team is ready to answer your questions.
